 |
| The Prime Minister of the United Republic of Tanzania, Hon. Kassim Majaliwa, strikes a bell to mark the official listing of over 28 companies on the Dar es Salaam Stock Exchange (DSE), with a market capitalization exceeding TZS 22 trillion and more than 683,000 investor accounts, the majority of whom are youth and women. The event took place at the DSE offices in Dar es Salaam. |
Minister for Finance, Hon. Dr. Mwigulu Lameck Nchemba, has said that the Government has put in place policies, laws, and regulations aimed at stimulating business, investment, and economic growth in the country.
The statement was delivered on his behalf by the Deputy Permanent Secretary, Ministry of Finance, Mr. Elijah Mwandumbya, during Prime Minister Hon. Kassim Majaliwa’s visit to the offices of the Dar es Salaam Stock Exchange (DSE) in Morocco, Dar es Salaam.
“This step is a symbol of the Sixth-Phase Government under the leadership of Her Excellency President Dr. Samia Suluhu Hassan, demonstrating how conducive policy, legal, and operational environments have been created, with a strong emphasis on building an inclusive economy,” said Mr. Mwandumbya.
He added that the Government, through the Ministry of Finance, developed the Financial Sector Development Master Plan 2020/21–2029/30 with the aim of facilitating access to financial resources for both the public and private sectors. He noted that the DSE has matured into a modern, transparent platform linking investors with companies in need of capital.
Currently, the DSE has listed over 28 companies, with a market capitalization exceeding TZS 22 trillion. The number of investor accounts has surpassed 683,000, the majority of them youth and women.
“These are remarkable achievements that reflect the growing awareness and participation of citizens in investment, directly linking household economies to the nation’s development,” emphasized Mr. Mwandumbya.
He further highlighted that, in pursuit of the Tanzania Development Vision 2050, the Ministry of Finance and the DSE have a significant role to play in expanding the capital and securities markets within and beyond Tanzania. This includes encouraging insurance companies, banks, telecoms, and other sectors to list on the exchange in order to raise capital and drive economic growth.
“This step will also support the development of new financial products such as Green Bonds, Sukuk, and Real Estate Investment Trusts (REITs), as well as strengthen digital platforms like DSE Hisa Kiganjani to reach more Tanzanians, including the diaspora. In addition, it will enhance collaboration with the private sector and regional stakeholders to boost participation from both local and foreign investors,” he added.
He concluded by stressing that strengthening the financial sector and capital markets remains a priority, as they serve as the engine for mobilizing long-term capital for development projects, underscoring their vital contribution to national economic growth.
On his part, Prime Minister Hon. Kassim Majaliwa Majaliwa called on Tanzanians to actively participate and invest in the stock market, noting that the existence of the DSE has been a catalyst for development across various sectors. It has opened opportunities for direct investment in productive companies while enabling many families to earn additional income.
He noted that, for businesses, the DSE has become a reliable source of quick and affordable capital for expansion and improvement of products and services.
“The stock market has contributed to increased tax revenues, expanded citizen participation in the economy, and strengthened the stability of the financial sector. Beyond that, it has promoted a culture of investment and savings among citizens, which is essential for the long-term development of our economy,” said the Prime Minister.
👉 Keep following Kitomari Banking & Finance Blog for more updates, insights, and in-depth coverage of Tanzania’s financial sector, capital markets, and economic developments.
No comments:
Post a Comment